Top Stories

The derivatives markets have undergone the biggest regulatory overhaul in history since the global financial crisis. But buysiders are failing to see any benefits to their trading operations apart from increased costs, according to speakers at the 40th Annual Futures Industry Association Boca Conference in Boca Raton, Florida.

Competing markets and jurisdictions between China and Hong Kong pose regulatory uncertainty and liabilities as derivatives market participants transact on the Hong Kong-Shanghai Stock Connect, according to panellists at the Futures Industry Expo Conference in Boca Raton, Florida.

If more banks are forced out of the clearing business as a result of the stringent leverage ratio rules under Basel III, then the remaining futures commissions merchants will not have the capacity to take on their clients, according to speakers at the 40th Annual Futures Industry Association Boca Conference in Boca on Tuesday.

One of the greatest advantages of clearing for buyside participants is that they do not have to invest in derivatives documentation such as International Swaps and Derivatives Association master agreements and credit support annexes which are costly and time consuming for market participants, according to speakers as the 40th Annual Futures Industry Association Boca Conference in Boca on Tuesday.

Swaps regulation needs an overhaul in the US to repair the country’s competitiveness as a marketplace, according to Christopher Giancarlo, Commissioner at the Commodity Futures Trading Commission.

The Singapore Exchange will add new FX futures contracts on the Taiwanese dollar, offshore and onshore renminbi crosses aiming to encourage trading on electronic trading platforms and exchanges in line with global G20 reforms for the over-the-counter derivatives markets.

Overall interest rate derivatives trading that was reported to swap data repositories last week increased by 14% from the previous week, according to data from the International Swaps and Derivatives Association.

One institutional investor sold a large volume of puts on the iShares iBoxx $ High Yield Corporate Bond exchange-traded fund (HYG) Monday on the back of rising implied volatilities caused by prospective Federal Reserve rate hikes.

Luke Moranda, ex-managing director for clearing technology and global payments technology, Treasury services technology at JPMorgan Chase, has joined the Options Clearing Corporation as senior vice president and chief information officer.

Giles Triffitt, the ex-head of operational risk at KPMG based in Edinburgh, has been hired as chief risk officer at Tullett Prebon based in London in a newly created role.

The European Securities and Markets Authority has entered into a memorandum of understanding with the Monetary Authority of Singapore to extend formal recognition of covered central counterparties based in Singapore under the European Market Infrastructure Regulation.

Christopher Fix, former CEO of the Dubai Mercantile Exchange, has been appointed as a managing director and head of Asia Pacific at CME Group.